Nonfarm payroll day has crept up again, due at 1230 GMT

  • For October
  • Bloomberg consensus expected is +313K, prior -33k for the headline
  • U/e expected 4.2%, prior 4.2%
  • Average hourly earnigns expected 0.2% m/m, 2.7% y/y (priors 0.5% & 2.9%)

Snippet from Goldman Sachs' preview of the data:

GS estimate nonfarm payrolls +340k in October, above consensus of +310k and the 3-month average pace of +91k

  • Our forecast reflects solid underlying job growth and a sharp rebound in employment in hurricane-affected areas, as we estimate flooding and power outages reduced the level of September payrolls by approximately 180k.

Unemployment rate forecast is 4.2%

For average hourly earnings

  • increase 0.2% m/m
  • 2.7% y/y